The 33-year-old royal was a guest speaker at the Obama Foundation Summit in Chicago, Illinois, on Tuesday, where he spoke about when he realized that he could use his "position for good" and how his mother's death taught him about the importance of giving back.

"I think what happened to my mum probably put me a step back, thinking, 'How could someone who did so much for the world, and did so much for everyone else, be treated like that by a certain institution?'" Prince Harry shared. "It takes a bit of getting used to, but once you understand the privileged position that you're in, you then got to spend the rest of your life earning that privilege and giving back. And also gaining the trust and respect of the general public, and using the position for good."

Princess Diana, who was known as the "People's Princess" and died when Harry was 12, continues to be a major inspiration for the prince.

"I think she had a lot in common with everybody but also she certainly listened in a very, very short space of time," Prince Harry said. "In society we suffer from this illusion or this reality where some problems get so big that nobody wants to get involved. She was the one that changed that. I will always look up to her as being my ideal role model because everything she did, and the way she did it, was having an impact, was making a difference."